Volcker's vaulting interest rate onto high gear
==========
The Federal Reserve in the United States has been reluctant to lower its short-term lending rates to major financial institutions. The main reason is that the domestic inflation rate in the US has not yet descended to the Federal Reserve's preferred level of around 2 percent. The Fed feels obligated to maintain a high interest rate of around 5 percent to combat inflation. Alan Greenspan, the former Fed chairman, carefully adjusted interest rates to support the rapid growth of the US economy during his tenure. However, he also witnessed several rounds of economic crises that originated in the US and spread globally.
#FederalReserve #InterestRates #Inflation #AlanGreenspan
https://www.manilatimes.net/2024/05/15/opinion/columns/volckers-vaulting-interest-rate-onto-high-gear/1946382
The Manila Times /
npub1et…ee5s0
2024-05-14 17:02:47
Author Public Key
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2024-05-14 17:02:47Event JSON
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"content": "Volcker's vaulting interest rate onto high gear\n==========\n\nThe Federal Reserve in the United States has been reluctant to lower its short-term lending rates to major financial institutions. The main reason is that the domestic inflation rate in the US has not yet descended to the Federal Reserve's preferred level of around 2 percent. The Fed feels obligated to maintain a high interest rate of around 5 percent to combat inflation. Alan Greenspan, the former Fed chairman, carefully adjusted interest rates to support the rapid growth of the US economy during his tenure. However, he also witnessed several rounds of economic crises that originated in the US and spread globally.\n\n#FederalReserve #InterestRates #Inflation #AlanGreenspan\n\nhttps://www.manilatimes.net/2024/05/15/opinion/columns/volckers-vaulting-interest-rate-onto-high-gear/1946382",
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